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<br />'2e Said bonds shall be numbered serially from 1 to 615, inclusive,
<br />each in the deaanination of $1,000, shall bear interest at the respective
<br />annual rates stated opposite their maturity dates below, from date of issue
<br />until paid or duly called for redemption, and shall mature serially on January
<br />1 in the respective years and amounts as follows:
<br />Year Amount Rate Year Amount Rate
<br />I• $15,0 3.60% 1973 $35,000 4.20%
<br />1963 35, 3.60% 1974 35,E 4.201.
<br />1964 35,000 ee, 3.60 1975 35,000 4.20;0
<br />1965 35,E 1: 68g- 1976 35,000 4.20
<br />1966 35,000 1977 15,000
<br />1967 35,E 4.00% 4 40 1963 35,000 1978 15
<br />1969 35,000 4.00% 198 15,000 4.40%
<br />1970 35,000 4.20% 1981 15 000 4.40;0
<br />1971 35,000 4.20% i 2 15,000 4.4096
<br />4.40%
<br />1972 35,000 4.2096
<br />Interest shall be payable each January 1 and July 1, commencing in 1961.
<br />Interest et the basic rate applicable to each bond, from date of issue to
<br />maturity, shall be represented by appropriate interest coupons appurtenant
<br />to such bend, and each and all of the bonds shall bear additional interest,
<br />represented by separate coupons designated as "B" coupons, at the rate of
<br />1 ee er annum for the limited period from Octpbar 1 19
<br />to J� ar�y 19_§;e The bonds maturing in the years 1962 tt
<br />1974 ahe33'uo1 be subject to redemption before maturity, but those suturing
<br />in the years 1975 through 1982 shall be each subject to redemption and pie
<br />poyment at the option of the Village on January 1, 1972, and any interest
<br />payment date thereafter, in inverse order of their serial numbers and at a
<br />price of per and accrued interest pans apremium of $25 for each bond pre-
<br />paid. Not less than thirty days before the date specified for prepayment
<br />and redemption of any of said bonds, the Village Treasurer shall mail notice
<br />of the c thereof to the holder, if known, and to the bank at which prin-
<br />cipal ands ntereat are then payable, and the Treasurer is directed to main-
<br />tain a record of the names and addresses of holders of prepayable bonds for
<br />the purpose of mailing such notices, so far as such information is made
<br />avaelabl4'•to him. The principal of and interest on said bonds shall be
<br />payable at the mein office of 1unereceux eleWepenee blank
<br />p f S gayl in sta a• 3
<br />Village hereby agrees to pay the reasonab Vi a and customary charges of such
<br />paY9.n6 ag for the receipt and disbursement thereof.
<br />3. The bonds shall be prepared for execution forthwith, executed
<br />and delivered to said purchasers in the manner and substantially in the form
<br />set forth4in said Ordinance No. 68 upon payment by the purchasers of par
<br />plus accrued interest plus a premium. of 0 as provided in the con-
<br />tract of sale above described, and the proceeds thereof shall be credited
<br />by the Treasurer to the fund of Waterworks Improvement No. 1960 -1, and used
<br />solely to pay the cost of said improvement and for the other purposes speci-
<br />fied in said ordinance, provided that $30,000 of said proceeds will be needed
<br />for the payment of interest to accrue on the bonds during the construction of
<br />the improvement and shall be credited forthwith to the Improvement Bond Redemp-
<br />tion Fund, for this purpose.
<br />4. In accordance with said ordinance, it is hereby estimated that
<br />appraxlmate]y $344,000 principal amount of the special assessments to be
<br />levied ups properties within the area assessable for said improvement, as
<br />heretofore established by the resolution ordering the rams, will be avail-
<br />able for 'credit to the Improvement Bond Redemption Fund after the cost of
<br />the improvement is paid in full; which assessments will be payable in fifteen
<br />equal annul installments, to be spread upon the tax rolls of the tillage
<br />in consecutive yearn commencing, it is plrnned, in 19 61, with interest
<br />at the rate of 6% per annum. To the first installment shall be added
<br />interest on the entire assessment on each property from the date of
<br />adoption thereof until December 31 of the year in which the first in-
<br />stallment is payable, and to each subsequent installment shall be added
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